BANGOR, Mich. (AP) — A Davis-based biotech company is getting a $10 million federal loan to help expand its product line at its plant in southwestern Michigan.
Agriculture Secretary Tom Vilsack announced the funding Wednesday for Marrone Bio Innovations’ facility in Bangor.
The Herald-Palladium of St. Joseph reports that the company began production late last year, and the loan will allow it to move ahead with its planned $32 million expansion.
The loan is funded through the U.S. Department of Agriculture’s Rural Development Business and Industry Guaranteed Loan program. The expansion will bring the introduction of additional bio-based product lines and is projected to add 30 to 50 employees in Bangor.
Marrone Bio Innovations makes pest management and plant health products for the agriculture, turf, ornamental and water treatment markets.
— Online: http://www.marronebioinnovations.com